Nestlé CEO Targets Troubled Units

VEVEY, Switzerland—Nestlé SA wants to fix or sell a "sizable percentage" of its underperforming brands and businesses, Chief Executive Paul Bulcke said, acknowledging the food giant has been held back by products it should have addressed sooner.

In an interview Thursday, Mr. Bulcke said the company had reviewed two-thirds of its brand portfolio, which comprises 1,800 business "cells." He didn't identify which...